Category: Business

MTN mulls scrapping Nigeria IPO, seeks options as spat hurts 0

MTN mulls scrapping Nigeria IPO, seeks options as spat hurts

MTN Group, the wireless carrier facing a combined $10-billion in claims from authorities in Nigeria, said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange.

NNPC Records N18bn Trade Surplus 0

NNPC Records N18bn Trade Surplus

The Nigerian National Petroleum Corporation (NNPC) announced yesterday that it made a trade surplus of N18.12 billion in the month of May, higher than N17.16 billion in April 2018. Disclosing this in a statement...

Chinese animation movie to debut in Nigerian cinemas 0

Chinese animation movie to debut in Nigerian cinemas

A Chinese animation movie will debut in several Nigerian cinemas at the end of 2018 to wow audiences with its special effects. The movie, “Travel with the Wind,” produced by China’s Hangzhou Minglang Film...

CBN revokes Skye Bank license 0

CBN revokes Skye Bank license

The Central Bank of Nigeria (CBN) yesterday revoked the license of Skye Bank, and transferred its assets and liabilities to a newly licensed bridge bank called Polaris Bank.

Police recover $470.5m, N8bn NNPC funds hidden in commercial banks 0

Police recover $470.5m, N8bn NNPC funds hidden in commercial banks

The Nigeria police on Thursday said they recovered $470.5m belonging to the Nigerian National Petroleum Corporation’s Brass Liquefied Natural Gas hidden in some commercial banks in violation of the directives of the Federal Government...

Coca-Cola moving ahead with takeover of Nigeria’s Chi juice 0

Coca-Cola moving ahead with takeover of Nigeria’s Chi juice

LAGOS (Reuters) – Coca-Cola is moving ahead with plans to take over Nigeria’s leading juice company Chi Ltd and aims to complete the deal early next year, a senior executive told Reuters. The acquisition...